Fed Denies Citicorp Request for Stay: The...
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From Times Staff and Wire Reports
Fed Denies Citicorp Request for Stay: The Federal Reserve denied Citicorp’s request for a stay of an order forbidding its Family Guardian Life Insurance Co. subsidiary to continue its expanded insurance activities. Family Guardian was attempting to enter the market for life insurance and annuities. Citicorp sought the stay pending judicial review of the Fed’s Sept. 5 decision.
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